Who does not crave a beautiful, peaceful, and abundant old age? Days where you just enjoy life in a carefree, convenient retirement era.
We’ve rounded up the best countries for retirement for you to consider. Despite this era still being a long way to go for most reading this, planning ahead can save you worries. The following countries have been considered according to their health facilities, the environment, and lifestyle so, let’s check them out.
Best Countries for Retirement
Australia
The Australian Retirement Trust handles more than $240 billion in retirement savings, as well as investor retirement visas for self-funded retirees without dependents. The country is equipped with universal health services, although many choose to use private health insurance.
New Zealand
New Zealand offers a temporary Retirement Visitor Visa, which requires people to be at least 66 years old and maintain a certain minimum investment in New Zealand. Moreover, the Retirement Resident Visa is dedicated to the elderly with much higher financial requirements. Residents also receive subsidised or free public health services.
Switzerland
The retirement age in Switzerland is 65 years for men and 64 years for women, although there is a possibility for an early retirement of one or two years. Switzerland has a three-pillar pension system including old-age insurance, insurance for heirs, and disability insurance. Although Switzerland is one of the most expensive countries in the world, Switzerland's healthcare system is considered one of the best.
Denmark
Full social security benefits are provided to people who have lived in Denmark for a minimum of 40 years between the ages of 15 and 65. Those who have lived there for less than 40 years receive 1/40 of the full amount for each year of stay between the ages of 15 and 65. However, Denmark does not have a Retirement Visa and requires a long-term visa for stays of more than three months. The country possesses a strong social safety net and a decentralised universal healthcare system.
Sweden
Some nationalities require a Schengen Visa to retire in Sweden, ie. Americans. All residents of Sweden have access to the country's public health services, which are often rated as one of the best in the world.
Spain
Retiring in Spain can cost less than $25,000 per year, thanks to low property taxes and relatively cheap rental costs compared to other Western countries. The minimum age in Spain to receive a pension is 65 years old. Moreover, Spain’s public health care system is open to international retirees. The country also has a residence visa that does not allow its holder to work in the country.
Italy
Italy has a contribution social security system in which employers and employees collectively contribute about 40 percent of gross salaries. The Italy Elective Residency Visa, an annual income requirement of about $35,000 for individuals, is also available. Italy’s strong healthcare system and lower cost of housing contribute to the country’s appeal for retirees.
Portugal
Portugal has free health services for residents and for some nationalities who have lived in the country for five years and are permanent residents. The country also has a Golden Visa that can be obtained by buying real estate worth 500,000 Euros or investing 500,000 euros in scientific research.
Greece
Residents who have lived in Greece for 15 years or more receive a national old-age pension at the age of 67. Greece has cheaper healthcare than most Western countries, although the country's economy is still in the recovery phase which can pose some challenges if a job opportunity calls there before retirement.
Canada
Old age security in Canada, which is funded by general tax revenue, provides monthly payments for seniors aged 65 or older, depending on how long they have lived in the country or certain other countries. Canada offers universal health care for citizens and permanent residents, with single-payer health insurance available to citizens throughout their lives.